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By Sven A. Wehrwein

Leveraged buyouts are a fixture in today's market place. This paper will include comments on how LBO's are analyzed, structured and sold, as well as an overview on the present environment of LBO's.

Jan 1, 1990

By W. H. Adams

One of the most attractive subjects for technical writers is the gigantic industry of the manufacture of sulphuric acid. This is no doubt, natural when we take into account that it has grown in this country during the past twenty years, from a production of 60,000 tons in the year 1867, to that of nearly 450,000 tons in 1887. We may well excuse much of the literature which but repeats the same old story, as it serves to bring to the public notice, at proper intervals, the hidden resources of our land; and this constant application of essential truths will sooner or later be the means of freeing us from dependence upon the Old World for necessary chemical products. The present increase in manufacture of this acid in the United States is almost wholly from pyrites ores, which we have in unlimited quantities close at hand. The largest consumption of such acid is for treatment of other native products, petroleum, rock-phosphates, etc.; and, considering the knowledge we have gained during the past twenty years, it is safe to say that the industry is but fairly established, and the causes which have operated to place us in our present proud position are but natural incentives for a further growth and an increased consumption of the many other undiscovered or undeveloped resources of our American soi1. In one of his earlier editions Muspratt says: " It would seem that the manufacture of sulphuric acid, though as extensively carried on as any other business, yet seems to be the least understood; and the ignorance of some manufacturers appears to be only equalled by that of writers, who, in their description of the production of this acid, give figures of apparatus, and vaunt as improvements, things which have been exploded for years. It is possible to find in the works of eminent men drawings of apparatus, for the production of sulphuric acid, which never could possibly have worked one day—some, in fact, could never have worked at all."

Jan 1, 1888

By Ernest N. Patty

WHEN an Alaskan prospector makes a new mineral discovery he stakes out his claims and then starts prospecting for a near-by landing field. This may be a convenient lake but more often it is a gravel bar along a river, where, by cutting off some brush and throwing the larger rocks to one side and then tying a flour sack to a pole, he may decoy some intrepid aviator into testing it gingerly with the wheels of his plane. It was only a few years ago that .the fence around the baseball park at Fairbanks, Alaska, was taken down so that planes could get in and out of the ball park without ripping off boards. Today the grandstand is lost among the modern hangars which line one side of a modern and busy airport. Planes come and go all during the day, and in summer, when there is no darkness, the night stillness is frequently broken by the hum of a motor overhead. Fairbanks is the hub of interior Alaska and from that hub airplanes radiate in all directions to mining camps large and small. An air industry of comparable size is based at the town of Anchorage, and in fact there are but few towns of more than 200 population in the Territory that do not have one or more planes based there.

Jan 1, 1937

By AIME AIME

In the present number of Mining and Metallurgy, issued on the fiftieth anniversary of the founding of the Institute, it appears appropriate to chronicle a few of the interesting incidents respecting its early life. We are fortunate in being able to cull the following notes from unpublished manuscripts of Doctor Raymond and Doctor Drinker, than whom no other members could have written with greater exactness and fidelity. THE seventh decade of the 19th century may be said to have marked an. era in the history of the world. Industrially and .commercially it was marked by the wide application and utilization of discoveries already made, which came to their full effect at this period in steamships, railways, telegraph and cable lines; the standardization of parts in machines, from watches to locomotives; the use of 'dynamite, antiseptic surgery, the open-hearth steel process, the compressed-air rock-drill, the electric generator, and the Gatling gun. Through the opening of the Suez canal in 1870 the maritime trade of the world was revolutionized, sailing vessels were supplanted by steamers, while ocean cables and ocean "tramps" brought about far more rapid movement of commerce than had before been experienced. Politically, this period was marked by the sudden birth of the German empire and the beginning of that intensive internal development of the national resources of that empire in preparation for colonial extension and war, the amazing result of which has been made evident by the recent world conflict. In the United States, the significance of this decade was peculiarly important. The re-admission to the union of Virginia, Mississippi, Texas and Georgia in

Jan 1, 1921

By Edward J. Felten

THE oxidation resistance of chromium and Fe-Cr alloys is increased by small additions of yttrium or other rare earth metals.1,2 In addition, the presence of the additives increases the resistance of these alloys to spalling of the external oxide above 1000°C. This ability to prevent spalling appears to be related to the formation of an internal oxide in alloys containing yttrium or the other rare earth metals. The internal oxide is found in the form of a filamentary growth concentrated in the grain boundaries of the unoxidized metal. In alloys containing yttrium this internal oxide was found to be either Y2O3 Or YCrO3.' In an earlier report,' the growth of the external oxide was found to be controlled by diffusion through the oxide layer. Thermal balance studies were used to establish the kinetics of external oxide formation. In this related study the rate of growth of the internal filamentary oxide has also been studied. The results obtained indicate that the growth of the internal oxide is also diffusion controlled. Internal oxidation appears to occur in at least two ways. Using copper alloys containing small amounts of silicon, Rhines 3 found that between 600" and 1000oC a subscale was formed which consisted of particles of silica dispersed in the metallic matrix. The conditions requisite to internal oxidation as suggested by Rhines are: 1) a solubility of oxygen in the alloy, 2) the ability of oxygen to diffuse at an appreciable rate into the alloy, 3) the possibility of the formation by the alloying element of an oxide more stable than the oxide of the host metal, and 4) a relatively low solubility of this oxide in the metal. These conditions are fulfilled for a number of other copper alloys.3-5 Furthermore, the relationship between the depth to which the internal oxide is formed and the oxidation time follows the simple parabolic law.6 The activation energy for copper containing small amounts of silicon, germanium, iron, or manganese as calculated from Rhines data6 is about 48 kcal per mole. In some cases the internal oxide is found segregated at the grain boundaries, especially near the the surface. Observations of this type of oxide formation have been reported by stead,7 Rhines,* and Lustman. Evans" cites these cases as examples of the simultaneous movement of anions and cations during oxidation. Furthermore, Evans states that the presence of a minor constituent with a high

Jan 1, 1962

George E. Collins, Nacoochee, Ga. (communication to the Secretary): The results tabulated below were obtained at the Reynolds mill, White county, Ga. They were noted, not with a view to investigating the point discussed by Mr. Clark, but in course of a test on a working scale to determine the com parative saving from a given free-milling ore on copper and silvered plates respectively. In every case the bullion assayed was the result of a separate clean-up on a considerable quantity of ore. The ore varied widely in grade and in other respects, but the runs bracketed in the table were made at the same time, in adjoining batteries, and on similar types of ore. In a * Result modified by the addition to the bullion-shipment of a little impure bullion left over from previous clean-ups.. On these occasions, the strips of copper were removed from the tables, and: their lower surfaces were cleaned. Hence the higher yield reported.

Jan 1, 1900

By H. E. Cline

Solidification of Pb-Sn alloys ranging in composition from 1.2 to 56 at. pct Pb ws observed with polarized light. Lamellar structures were observed over a larger range of compositions in alloys containing excess tin than excess lead, as expected from constitutional supercooling. The occurrence of pools of supercooled liquid surrounded by lead is explained by the difficulty in nucleating tin. Cells and dendrites weve observed in tin-rich alloys. Evidence was found that the degenerate structure formed at low growth rates, the formation of faults, and abrupt changes in composition and structure can be attributed to non-steady-state growth. The apparent interface shape was observed to have deep grooves at the interphase boundaries. HUNT and Jackson have observed the shape of the interface during growth of organic eutectics. They observed the formation of lamellar faults and shape instabilities upon changes in growth rate. The lamellar structure in these organic eutectics was not restricted to the eutectic composition. Recent work by Mollard and Flemings2 indicated that Pb-Sn alloys from 12 to 26 at. pct Pb could be solidified with a lamellar or rodlike structure if a sufficiently steep temperature gradient was used at a slow growth rate. Observations of the solid liquid interface of the Pb-Sn eutectic were made by Davies3 using polarized light. Photographs were at too low a magnification to determine the interface shape, but he has concluded that tin was the leading phase. In the following experiments, solidification of a range of Pb-Sn alloys from 1.2 to 56 at. pct Pb was observed using polarized light, to determine the factors controlling stability of the lamellar structure. EXPERIMENTAL Procedure. One hundred-gram ingots of alloys prepared from 99.999 pct pure Pb and Sn were cast into graphite molds under argon. The compositions of the alloys were 1.2, 6, 12, 26, 36, 46, and 56 at. pct Pb. Two-gram pieces were melted between two cover glass slides which were squeezed into a 1-mm separation. Samples were then observed under polarized light in a hot stage shown in Fig. 1. A long working distance objective designed for viewing at 500 times was used. Photography was made difficult by the lack of illumination and contrast at these high magnifications. By using an elliptical polarization compensator, as suggested by A. Holik, the contrast and illumination could be optimized. Photographs could be taken only at slow growth rates to avoid excessive interface motion during the 15-sec exposure used. The solidification rate was varied by increasing or decreasing the power to the heater. It was found that insulation was necessary to avoid undesired growth rate fluctuations. The temperature gradient, as measured with two thermocouples 1 cm apart, was 80" ± 20°C per cm during all the experiments reported here. The advantage of this procedure is in being able to observe solidification while it is occurring. However, the observations are restricted to the glass-metal surface and may be influenced by this surface. Also, one has no knowledge of the interior of the sample, in contrast to studies of the freezing of transparent organic eutectics.' Observations. The alloy near the eutectic composition (26 at. pct Pb) solidified in a lamellar structure when the growth rate was uniform. If the growth

Jan 1, 1968

By Paul E. Rosten

Introduction This papers describes some of the latest improvements that have been incorporated or planned by the Cleveland-Cliffs Iron Co. to reduce operating costs and improve pellet quality. The Cleveland-Cliffs Iron Co. operates and manages mining, beneficiation, and pelletizing operations in Michigan, Canada, and western Australia. This paper deals with the grate-kiln pelletizing operations at Republic, Humboldt, Tilden, Empire, and Pioneer in Michigan, and the Adams and Sherman in Ontario, Canada. Table I characterizes each operation in regard to location, ore type, pellet capacity and date that pellets were first produced. All of the operations with the exception of Pioneer and Tilden, utilize downdraft-two-pass grate cycles of drying followed by preheating. Pioneer utilizes an all-downdraft, three-pass grate cycle which consists of three drying zones followed by the preheat zone. The Pioneer and Tilden cycles have been described previously (Lindroos and Koski, 1966; Villar and Dawe, 1975; Koski, 1977). Tilden utilizes a three-pass grate cycle with a stage of updraft drying, followed by two downdraft drying stages. Recuperation systems which supply hot gases to a drying zone from second stage cooling were designed and fur¬nished for Tilden I. Tilden II will be identical. Empire IV will also be furnished with a recuperation system. The Adams grate¬kiln system was retrofitted with a recuperation system. This paper will summarize some of the efforts that are in effect or planned for grate-kiln pelletizing systems to: (1) reduce operating and maintenance costs, (2) reduce energy requirements, (3) improve product quality, and (4) meet environmental standards.

Jan 1, 1981

The following record of the important responsibilities already shouldered by Dr. Ricketts will give some indication of the trust and confidence reposed in him by his colleagues. The Institute is to be congratulated that a man who is already so much engaged should be willing to assume the further responsibility of guiding the Institute's Ship of state during the ensuing year. Louis Davidson Ricketts, who is brother of Professor Palmer or Chamberlaine Ricketts, President of Rensselaer Polytechnic Institute, was born at Elkton, Md., Dec. 19. 1859, was graduated from Princeton University in 1881 with the degree, Bachelor of Science, chosen a Fellow in Chemistry and W. S. Ward Fellow in Economic Geology, and after two years' study given the degree Doctor of Science. Following the completion of Iris work at Princeton, Dr. Ricketts went to Colorado and started to work as a mine surveyor. For the 15 years following, his time was chiefly occupied in reconnaissance work, geological work and mine examination. From 1887 to 1890 Dr. Ricketts was Geologist for Wyoming, and at, the end of that period transferred his operations to the Southwest. where he has since been steadily engaged in large mining projects. He was identified with the acquisition of the property now owned by the Moctezuma Copper Co., a , subsidiary of Phelps, Dodge & Co., at Nacozari, Sonora, Mex. From 1899 to 1901 he was General Manager of the property and during his administration the concentrator and reduction works were completed and the mines put on a dividend-paying basis

Jan 3, 1916

By Eugene R. Rice

There are many methods for determining the meridian, but all of those in common use involve at least two separate observations, one for latitude and one for azimuth. Such observations made upon a south star at any hour are open to the objection of possible inaccuracy due to ignorance of the absolute refraction, and also to slow change in the altitude of the star when near the meridian. The method of observing a circum-polar star at elongation. besides requiring a separate observation for latitude, is open to the serious objection that clouds may obscure the star at the critical moment. Moreover, a tedious wait for the star to come to elongation is sometimes necessary. Many of us can recall 'long, cold, weary vigils, waiting for Polaris to reach elongation. For observing a circumpolar star at any hour, not only the latitude, but also the true time, must be known. This it is practically impossible to obtain, except in regions reached by the telegraph, and usually then one has to know the longitude also, in order to reduce " standard time" to " local time." The results obtained by this method, when the star is at culmination, are not very good, unless the true local time is absolutely known. The methods of obtaining the nleridian from the sun, by means of a solar attachment, or by direct observation, while good, are not absolute, by reason of refraction, change in declination of the sun, and small change in vertical angle, when the sun is near the meridian. For these two methods, latitude, time, and approximate longitude have to be known. In the method here described, only one observation is needed, and from it are computed azimuth, latitude, aud sidereal time. In other words, one call observe a circumpolar star—Polaris

Jan 1, 1911

By L. A. Cranson

WHEN I came out of Stanford University in 1922, the out-look for men trained in geology, petroleum engineering, and mining was indeed dismal; in fact, so much so that most of us looked upon our future in those fields as pretty hopeless. Neither our professors nor those men in industry with whom we came in contact gave us any enthusiastic encouragement as to the future of ourselves or the fields we had chosen for our labors. I believe that the attitude of pessimism which saturates everyone about graduation time is lament able and short-sighted, and may often start a young man on his way with an attitude of defeatism. Instead, he should be starting out knowing that he can expect hard work and keen competition, but that the fields of his labours are expanding at an accelerated rate, and that strong, energetic efforts will as always accomplish highly satisfactory results.

Jan 1, 1941

No. 264. A long established company operating steel and iron foundries, machine and forge shops, whose varied products are sold to the Government, railroads, mining and contracting industries, etc., has, openings in both manufacturing and selling departments for men with technical education and experience who are not subject to military call. State full particulars, kind of position preferred and salary expected. No. 265. Young man wanted, technical graduate preferred, to superintend construction f a small charcoal blast furnace. Man with blast-furnace experience preferred. For the right kind of man this is, not only a permanent job but an opportunity. In writing, give full particulars as to age, education, experience, salary wanted, etc. No. 26.6. An important copper mining and smelting company in Arizona needs two or three metallurgical chemists, at salaries. ranging front $150 to $175 per month. No. 267. A consulting mining engineer needs two superintendents for developing chrome deposits near Philadelphia; and another technical man for other engineering work in the same vicinity. No. 268. An iron-mining company, in New York State needs a mining engineer with knowledge of geology and acquaintance with construction work; A married man, with about 10 years' engineering experience preferred.

Jan 2, 1918

By Basil B. Zavoico

PRODUCTION of crude it in the United States during 1939 totaled about 1.255,776,000 barrels, an average of 3,440,482 barrels per day, 3.41 per cent above the 1938 output of 1,214,355,000 barrels but 1.83 per cent below the record pro¬duction of 1,279,160,000 barrels, in 1937. However only the two-week shutdown of oil fields in the Southwestern States in August and September prevented the domestic crude production from establishing an all-time record in 1939. Demand for all petroleum products for the first ten months of 1939 showed an increase of 7.04 per cent over the similar period of 1938. Domestic demand for all petroleum products was particularly benefited by the increasing industrial activity, advancing 8.37 per cent above the like period of the preceding year equivalent to a volume increment of 256,810 barrels per day; with motor-fuel demand gaining 5.83 per cent and demand for all fuel oils gaining 12.15 per cent over the corresponding period of 1938. The export demand for the first ten months of 1939 was slightly below the export movements during the same period of 1938, declining 0.56 per cent. The European war was a major factor in 1939 for the petroleum industry in the United States, even if, at the end of the year, the war had not yet resulted in the expected large shipments to England and France.

Jan 1, 1940

By J. D. Lubahn

Prior tests by Dorn, where the strain rate in a tensile test was suddenly changed, have shown a small, but definite rate-history effect to exist. If this effect is neglected in the calculation of creep behavior from tensile results, an error should occur. This paper shows that this error is smaller than experimental scattering, and may be neglected. DORN1 has found a small but definite rate-history effect in the aluminum alloy 250 at liquid-nitrogen temperature using tensile tests with an abrupt rate change. Such an effect is to be expected from pre-viously known2-6 temperature-history effects, together with general experience that effects produced by changing the strain rate a large amount are simi-

Jan 1, 1959

By William F. Boericke

KIRKLAND LAKE and Porcupine in 1931 accounted for more than $41,625,000 of Ontario's total gold production of $43,117,688. For the first time, the younger camp surpassed the older in gold output, producing $21,734,000 against $19,891,000 for Porcupine. Present output of both camps is increasing, and should pass the record figures of 1931 before the year is out. In May of this year, Porcupine mines milled 285,759 tons, with a bullion value of $1,810,009; the corresponding figures for Kirkland mines are 149,188 tons and $2,104,757. A much higher average value per ton for Kirkland ore, $14.10 against $6.33 average for Porcupine accounts for the difference. The two fields are about 100 miles apart by rail, and there are important differences in the character of the ores, which accounts largely for the difference in milling costs and in final tailing values, despite excellent metallurgical work in both the fields.

Jan 1, 1932

By Paul F. Kerr

The uranium-producing areas near Marysvale, Utah provide an unusual group of veins and replacement deposits associated with a Pliocene-Oligocene intrusive and extrusive igneous complex. Aside from several scattered occurrences in older volcanics, uranium-bearing veins occur in intrusive quartz monzonite or granite and in nearby rhyolite. The veins in general trend within a few degrees of N55-65°E, are more or less vertical, and are found along the western margins of a quartz monzonite intrusive. The replacement deposits are found in rhyolite intrusives and also in the lower portions of rhyolite flows close to places where veins forming solutions rising through quartz monzonite came into contact with the rhyolite. At least 14 veins have been mined since uranium mining operations began at Marysvale some 16 years ago, while ore has been extracted through about 10 miles of underground workings. The active mmmg area is approximately 3000 feet long and in the central portion 1500 feet wide. Ores have been found over a vertical spread of almost 2000 feet, between the highest occurrence on Jungfrau Hill ( ca. 7200 feet) and the deepest discovery of ore in a drill hole near the Prospector Mine (ca. 5200 feet). Under existing mining and marketing conditions, mining along the veins in the main area appears to have reached an economic limit at about 500-600 feet below the surface. However, orebodies in the rhyolite and in the upper portions of veins close to the rhyolite are subject to active mining. Isotopic dates indicate that the uraninitebearing veins and replacements are late Miocene or Pliocene (ca. 10-13 m.y.), the rhyolite is Miocene (avg. 17.5 m.y.), and the quartz monzonite and granite intrusives are late Oligocene (23.6 to 26.0 m.y.). The older Bullion Canyon Volcanic Series which encircles the area is Oligocene (28 to 31.1 m.y.). Two generations of alteration occur: ( 1) Earlier alunitic veins and replacement bodies are found in the Bullion Canyon Volcanic Series, none of which have produced uranium; (2) Later argillic alteration associated with the introduction of uranium is found along veins, replacing glassy rhyolite dikes and replacing phases of the rhyolite.

Jan 1, 1968

By Thomas H. Sheldon

IN the zeal for opening up new ore-bodies, or for. extracting the ore from attractive bodies gal ready opened up, we very often lose sight of the fact, that, after all, the operation of a mine is a business proposition, pure and simple; and for the best working-results should be treated upon a strict business basis. Of course, in every mine of consequence a record is kept of expenditures and receipts, and such glittering generalities as "gross receipts," " net receipts," " mining expenses," .and " per cent. profit," can be told to the cent; but does this . record show economy of management, either as compared with the same record of other months, or as compared to the record of other mines of the' same class ? Moreover, if such a record shows that the cost of mining is high, does it in any way en¬able the manager to put his finger on the leakage? Does it necessarily follow that a mine which makes a profit of, say, 40 per cent on 25-dollar ore, is doing less economical mining than one which saves 60 per cent on 80-dollar ore ? Of course the figures in the latter case look the more attractive, but when it comes to a point of saving everything which can be saved, and of cutting down expenses to the lowest possible cost of operation, the former mine is doubtless on the most firm and economical financial basis. But as the relative merits of the system of mining in the two cases, nothing could be decided without a basis of detailed comparison ; if one system is more economical than the other, why is it so, and wherein does the advantage lie ? This can be shown only by keeping accurately the cost of each mining operation. And no matter how dissimilar two mines may be in character and operation, yet there are a few general heads common to all mining operations. In the first place, it is necessary to break the ore from the solid ground ;

Nov 1, 1905

By R. A. Bosch, F. V. Lenel, G. S. Ansell

RECENTLY, Ansell and aenel' proposed a dislocation model to account for the yielding behavior of dispersion-strengthened alloys. The criterion for yielding used in this model was that yielding occurs when the shear stress due to arrays of piled-up dislocations fractures or plastically deforms the dispersed second-phase particles. Calculations based on this model predict that the yield strength, uysof a dispersion-strengthened alloy containing particles whose geometry permits them to be considered as straight, i.e. not curved, barriers to dislocations follows the relation where and are the shear moduli of the matrix and dispersed phase respectively, b is the Burger vector of a dislocation in the matrix, A is the mean free path between dispersed phase particles and C is a constant. This yield stress, ys, is closely approximated in polycrystalline alloys by the proportional limit. The offset yield stress, uoy, is the yield stress, uys, plus the increase of stress due to strain hardening in the offset strain increment. Previous investigation1 has shown that Eq. [I] describes the yielding behavior of several different dispersion-strengthened alloys as a function of the mean free path between dispersed phase particles at a constant temperature. The purpose of this investigation was to investigate the temperature dependence of the yielding behavior of dispersion-strengthened alloys. The alloys studied, MD2100 and MD5100, are SAP-type alloys containing flake shaped aluminum oxide particles dispersed in a matrix of commercial purity aluminum. The proportional limit and 0.2 pct offset stress of both of these alloys were determined as a function of temperature over the temperature range from -190" to 500 C. All tests were conducted on an Instron tensile testing machine. Stress was measured by means of the Instron load cell. Strain was measured by means of SR-4 strain gages attached to the tensile specimens. Stress sensitivity was 80 psi. Strain sensitivity was 2 x 10F Fig. 1 shows the values received for the proportional limit and 0.2 pct offset yield stress plotted as a function of homologous temperature for both the MD2100 and MD5100 alloys. Inspection of Eq. [I] shows that of the terms which determine the theoretically predicted yield stress, uy,, only the shear moduli have an appreciable temperature dependence. From Eq. [I] the yield stress at any temperature T, UT, may be predicted from the yield stress at any arbitrary reference temperature, in this case 25 OC, u25, by the relation where the subscripts T and 25 refer to the values of the property at test temperature and at 25"C, respectively. The temperature dependence of the yield stress predicted by Eq. 121, based on the observed value for the proportional limit at 25OC, is also shown in Fig. 1. In evaluating Eq. [2] the following data was used. The values for the shear modulus of

Jan 1, 1962

By Howard Eavenson

THE low-volatile, or smokeless, coal field of southern West Virginia is in Fayette, Raleigh, Wyoming, Mercer, Summers and McDowell counties, in the extreme southern portion of the state, and extends into the adjacent counties of Tazewell and Buchanan in Virginia. McDowell County is the largest producer, with Fayette and Raleigh counties next. The total area of the field (Fig. 1) is approximately 1600 square miles, or 1,024,000 acres. The percentage of volatile matter in the various seams ranges from 15 to 26 per cent. The upper limit of true low-volatile coal is usually considered to be 23 per cent volatile matter; above this point, the coal usually is classed as medium volatile. This limit will be used in this paper.

Jan 1, 1931

Meeting, June 26, 1913).-On the petition of 29 members residing in and near San Francisco, Cal., the San Francisco Local Section was established. The territory of the St. Louis Local Section was established to include the following States and parts thereof: All the State of Missouri ; That part of the State of Illinois south of and including the city of Urbana ; That part of the State of Indiana south of and including the city of Indianapolis ; That. part of the State of Kentucky west of and including the city of Frankfort ; That part Of the State of Tennessee west of and including the city of Nashville That part of the State of Arkansas north of and including the city of Little Rock.

Jan 7, 1913